In the first quarter of the year, Alpha Bank reported a EUR 1.4 million profit in Romania as opposed to the EUR 13 million loss reported during the same period last year, data released by the Greek company shows. Q1 provisions slid 45.5 percent to EUR 14.4 million, while operating expenses dropped 3.6 percent to EUR 14.4 million. The bank’s creditor balance decreased by 5.1 percent from the same period last year, to EUR 2.87 billion, whereas the non-performing loan rate touched 14.4 percent. Company loans accounted for 60 percent of overall loans and loans for the general population accounted for 11 percent.
Alpha Bank’s lending market share in Romania reached 5.7 percent at the end of Q1. The company’s deposit portfolio went up by 6.6 percent in the first three months of the year, compared with the same period in 2013, to EUR 1.44 billion.Alpha Bank currently has 2,023 employees and 149 branches open in Romania.
In the first quarter, Alpha Bank’s reported loss at group level was EUR 107.6 million prior to tax payments. The Greek bank has successfully implemented a capital increase of EUR 1.2 billion in view of consolidating its position, and in April has bought back the preferential shares owned by the Greek state.